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Return to main DORA pageDORA Regulation (EU) 2022/2554
Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector and amending Regulations (EC) No 1060/2009, (EU) No 648/2012, (EU) No 600/2014, (EU) No 909/2014 and (EU) 2016/1011 (Digital and Operational Resilience Act’)
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The ‘Digital Operational Resilience Act’ or “DORA” (Regulation (EU) 2022/2554) shall be enhancing and improving Information and Communications Technology (‘ICT’) operational risk requirements across various financial sectors. Subsequently, it imposes obligations on a vast array of different financial entities, as well as certain ICT service providers that assist such financial entities. These financial entities include the following: Credit institutions Account information service providers Investment firms Alternative Investment Fund Managers Crypto-asset service providers Payment institutions Central securities depositories Credit rating agencies Data reporting service providers Insurance and reinsurance undertakings Insurance intermediaries Crowdfunding service providers Mamo TCV Advocates can provide assistance by…
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European Parliament Adopts Amendments to the Depositor Guarantee Scheme Directive
On the 24th of April 2024 the European Parliament (hereunder the ‘EP’) adopted the Proposal for the amendments to the Directive 2014/49/EU as regards the scope of deposit protection, use of deposit guarantee schemes funds, cross-border cooperation and transparency (the Directive hereunder referred to as the ‘DGSD’). The EP adopted the proposal with additional amendments to be assessed in line with the applicable European legislative process and, hence, the text is not final. These amendments are part of the proposed European package amending the framework on banks’ crisis management . One of the concepts considered under the DGSD is that…